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SEC Filings

6-K
INTERXION HOLDING N.V. filed this Form 6-K on 08/02/2018
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9

Financial instruments

Fair values versus carrying amounts

At 30 June 2018, the market price of the 4.75% Senior Notes due 2025 was 100.360. Using this market price, the fair value of the Senior Notes due 2025 was approximately €1,004 million, compared with their nominal value of €1,000 million.

At 30 June 2018, the Group had a cash flow hedge carried at a negative fair value, to hedge the interest rate risk of part of two mortgages.

At 30 June 2018, the fair value of all mortgages approximated to their carrying amount of €48.2 million (30 June 2017: €53.1 million). As of 30 June 2018, the fair value of the financial lease liabilities was €56.3 million (30 June 2017: €54.3 million) compared with the carrying amount of €50.8 million (30 June 2017: €51.4 million).

The carrying amounts of other financial assets and liabilities approximate to their fair value.

Fair values and hierarchy

The Company regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the Company assesses the evidence obtained from the third parties to support the conclusion that such valuations meet the requirements of IFRS, including the level in the fair value hierarchy in which such valuations should be classified. Significant valuation issues are reported to the Company’s Audit Committee.

When measuring the fair value of an asset or a liability, the Company uses observable market data to the extent possible. Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

 

Level 1:    quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2:    inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level 3:    inputs for the asset or liability that are not based on observable market data (unobservable inputs).

If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement. The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

 

21   

Interim Report: Three-month and six-month period ended 30 June 2018

These Condensed Consolidated Interim Financial Statements are unaudited